Published 19 October 2026
A savings goal calculator answers one question: how long until you reach your target — or how much to save each month. For example, saving €200 a month at 3% annual interest turns €1,000 of starting savings into a €5,000 goal in about 19 months. Enter your own numbers below.
This calculator uses the future value of an annuity formula with monthly compounding. Your balance grows in two ways: new deposits go in every month, and interest is earned on the whole balance — including interest earned in previous months.
The formula is FV = PV × (1+r)n + PMT × (((1+r)n − 1) / r), where PV is your starting savings, PMT is the monthly deposit, r is the monthly interest rate (annual rate ÷ 12), and n is the number of months. The calculator solves for n — the number of months needed for the future value to reach your goal — and then builds the year-by-year table by simulating month by month. When you deposit nothing each month, it falls back to pure compound growth: n = ln(FV/PV) ÷ ln(1+r).
Everything is computed in your browser — your numbers never leave your device, and there is no sign-up or tracking of your financial data.
Aisha in Berlin has €1,000 saved and wants €5,000 for an emergency fund. She can save €200 a month and her account pays 3% annually, compounded monthly:
So in about 19 months she reaches her €5,000 goal — and the interest did roughly 3% of the work for free. Raise the monthly deposit to €300 and the timeline drops to about 13 months; raise the rate to 5% and the interest earned nearly doubles. That is the power of playing with the inputs above: small changes compound.
Savings accounts across the EU are paying more than they did a few years ago, but the biggest gains still come from behaviour, not rates. Three moves matter most: automate a monthly transfer on payday so saving happens before spending, keep your emergency fund (3–6 months of expenses) in a high-yield savings account where it stays liquid, and put money you won't need for 5+ years into low-cost diversified ETFs rather than a savings account — long-term market returns have historically beaten savings rates by a wide margin, though they come with volatility.
A widely used guideline is to save at least 20% of your net income — the 50-30-20 rule: 50% for needs, 30% for wants, 20% for savings and debt repayment. But consistency matters more than the exact percentage: €150 saved every month without fail beats €500 saved sporadically. Start with whatever you can sustain, then increase the amount whenever your income rises.
Enter the annual rate your bank actually pays. In 2026, typical EU savings accounts advertise roughly 1–3%: standard instant-access accounts in Germany and the Netherlands sit around 1.5–2%, while France's regulated Livret A pays close to 3%. Term deposits and notice accounts usually pay a bit more. If you are unsure, 2% is a realistic middle estimate — then compare a pessimistic and an optimistic rate to see the range.
It depends on your starting savings and monthly deposits. Starting from €1,000 and adding €300 a month at 3% annual interest, you would reach €10,000 in 29 months — depositing €9,700 in total and earning roughly €387 in interest. Raise the monthly deposit to €600 and the timeline shrinks to about 15 months. Try your own numbers in the calculator above.
The maths is exact — it uses the standard future-value formula with monthly compounding. But it is still an estimate, because real life is not a formula: it ignores inflation (which erodes purchasing power), taxes and withholding on interest, bank fees, and the chance that your rate changes over time. Treat the result as a solid plan, not a promise.
Do both, in this order: first build a small emergency buffer of one month's expenses, then attack high-interest debt (credit cards, overdrafts) aggressively, because the interest you pay almost always exceeds the interest you earn. Once expensive debt is gone, redirect those payments straight into savings. Low-interest debt like a mortgage can usually coexist with saving.
A lump sum invested earlier grows slightly faster, because every euro starts compounding sooner. But for most people the comparison is theoretical: saving up a lump sum you do not have yet means waiting, and waiting costs more than the small compounding edge. Consistent monthly deposits win in practice — and if you receive a lump sum (a bonus, a tax refund), add it to the plan and watch the timeline shrink.
It depends on your country. Many EU countries tax savings interest — for example through a flat withholding tax deducted by the bank, an annual exemption allowance, or inclusion in your income tax return. Rules and rates differ widely across the EU, so check your national tax authority's guidance. This calculator shows pre-tax figures; subtract your expected tax to see your real return.
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